Tesla Seeks Rapid Output Boost as Profit Beats Estimates

Tesla roughly doubled its production capacity in 2022, with its annualized production estimate for the fourth quarter hitting a new record.

(Bloomberg) — Tesla Inc. reported better-than-expected profits in the latest quarter, even as it gave mixed signals on the outlook for growth in vehicle deliveries.

The electric-vehicle (EV) market leader said it would increase output “as quickly as possible” — in line with previous guidance for average annual growth of 50% over multiple years. However, Tesla said it’s on track to deliver about 1.8 million vehicles this year, which would represent a production jump of about 37%.